I was looking for a savings account that paid more interest compared to the regular banks. ICICI was offering a higher interest than the ’’big 5 banks’’ and ING Direct. So I opened my account in Dec 2003.
While chasing higher interest rates, I soon had 4 savings acounts. I decided to simplify my life and get rid some of them. ICICI charges fees for withdrawals and I found another online bank that paid higher interest, i.e. Achieva. So I called up the 1-800 number in October 2005 to close my account. The representative said that my ’’request’’ would take 5 to 10 business days. O.K. Nothing unusual about that. So I waited for 2 weeks, but the ICICI account was still open. I called again in November. Same thing: takes 5 to 10 business days to process, sorry about not processing my ’’request’’ to close the account in October. Alright, I thought it was just an error. Again I waited for 2 weeks. The account was still open and money not transferred to my chequing account. I called again in December. This time I was very irate. I was given the same speech about ’’5 to 10 business days’’. I asked to speak to a supervisor as to why this ’’request’’ is taking so long. The representative on the phone said that it wouldn’t do any good and that I wouldn’t be any further along.
By now I am getting really bummed. Does it take a bank 3 months to close an account? Really!!! Plus I can’t get an answer for the delay. I was getting the impression that they don’t want to give me my money!!
Don’t bank with ICICI. It is such a crappy bank. Lousy customer service. There are other banks that give high interest rates without this kind of shit. Don’t bother.